Posted on October 17, 2014
We have previously written about the volatility of rebuilding costs – particularly in prime central London (Steve Packer’s blog in May this year).
We often see clients who confuse the market value with the reinstatement value. The two values are completely different and the dangers of underinsuring can be considerable.
Zurich Insurance have recently produced a very useful document which explains in detail why an accurate rebuilding cost is important and what needs to be taken into account when assessing the value. To read the document click here.